Wharton FinTech Podcast

Miguel Armaza sits down with Anish Acharya, General Partner at Andreessen Horowitz (A16Z), where he invests primarily in financial services and adjacent technologies. Prior to joining A16Z, Anish held multiple leadership roles at Credit Karma and before that he founded two different startups – SocialDeck (acquired by Google) and Snowball (acquired by Credit Karma). In this episode, we talk about his transition from operator investor; The evolution of his investing approach; Why all of his best career decisions have mostly been focused on people; and, why he believes there’s a huge opportunity in fintech for the GenZ generation. Anish is also a passionate DJ and loves to spin records, so as bonus for our listeners, we have included a few minutes of his latest mix at the end of the show! Anish Acharya Anish Acharya is a General Partner at Andreessen Horowitz where he invests primarily in financial services and adjacent technologies. He currently serves on the boards of remote payroll and compliance platform Deel and construction technology company Mosaic. Anish joined Andreessen Horowitz in 2019. Prior to joining a16z, Anish held multiple roles at Credit Karma including the General Manager of Core Product and General Manager of U.S. Card, which he helped scale to over 100MM members and nearly $1B in 2019 revenue. Anish joined Credit Karma in 2015 via the acquisition of Snowball, a notifications startup he founded a year earlier. Prior to creating Snowball, Anish founded SocialDeck, a social-gaming company that was acquired by Google in 2010. He went on to lead various mobile product efforts as well as invest at Google Ventures. Anish graduated from the University of Waterloo and lives in the Bay Area with his family. About A16Z Andreessen Horowitz (a16z) is a Silicon Valley-based venture capital firm that backs bold entrepreneurs building the future through technology. The firm is stage agnostic, investing in seed to late-stage technology companies, across the consumer, enterprise, bio/healthcare, crypto, and fintech spaces. a16z has nearly $16.5B in assets under management across multiple funds. See portfolio companies here: https://a16z.com/portfolio/. Wharton Fintech https://www.whartonfintech.org/ | https://twitter.com/whartonfintech | https://www.linkedin.com/company/wharton-fintech-club Miguel Armaza https://www.linkedin.com/in/armaza/ | https://twitter.com/MiguelArmaza

Miguel Armaza sits down with Hernan Fernandez, Founder and Co-Managing Partner at Angel Ventures, one of the oldest and most active Venture Capital funds in Latin America investing in early-stage to early-growth companies with business models tailored for the Latin American market. We talked about Hernan’s career, what drove him to leave the corporate world and launch one of the first VC’s in the region, his take on the entrepreneurial market in Latin America, and some of the trends and opportunities that get him going these days. Hernan is also the founder of the largest angel investment network in Latin America and serves as a Board Member at the Mexican Association of PE & VC Funds. Prior to AV, Hernan got his MBA degree at MIT’s Sloan School of Management Hernán Fernández Lamadrid Hernan is the Founder and Co-Managing Partner at Angel Ventures, where he manages deal-flow, investor relations and shares duties in creating value for the investment portfolio. He is also the founder of the largest angel investment network in Latin America. He currently serves as a Board Member at the Mexican Association of PE & VC Funds (AMEXCAP). Prior to Angel Ventures, Hernan started his professional career as a corporate lawyer in PwC’s Mexico City and Paris branch offices, as a consultant for the Sustainable Business Initiative of the United Nations Development Program in the U.S. and Paraguay and later as a management consultant for Strategy& (formerly Booz & Company) in Mexico City. He has been named one of CNN/Expansion 30 Mexico’s Promises and the Most Influential Angel Investor in Mexico according to TechCrunch. Hernán holds a master’s degree in Business Administration (MBA) from the MIT Sloan School of Management and a law degree from ITAM in Mexico. AV has put together a strong and flexible team, bestinclass, in-house developed processes and attracted a multidisciplinary group of advisors, mentors and allies that not only provide capital, but most importantly, talent, relationships, and brain power. The managing team has extensive experience in company development and growth, private equity transactions, management and operation of venture capital funds, mergers, and acquisitions, launching startups and new business units, as well as strategic consulting and operational administration of multinational conglomerates. About Angel Ventures Founded in 2008, AV is one of the most active and influential Mexican VC firms in Latin America. The Firm invests in early-stage to early-growth companies by becoming a leading Series Seed and Series A investor in startups that drive innovative business models tailored for the Latin American market. We manage two investment funds (one in fundraising), and we strive to perform the best possible investments by attracting best-in-class entrepreneurs, applying exhaustive and progressive methodologies to assess opportunities and leveraging our intangible assets to boost our portfolio returns, all while being compliant with major global standards for VC practices. AV is the official VC firm recognized by the four governments of the pacific alliance region (México, Colombia, Perú and Chile). The Company was awarded such recognition through a call of proposals organized by the Inter-American Development Bank in June 2016. Wharton Fintech - https://www.whartonfintech.org/ - https://twitter.com/whartonfintech - https://www.linkedin.com/company/wharton-fintech-club Host https://www.linkedin.com/in/armaza/ https://twitter.com/MiguelArmaza

Miguel Armaza sits down with Eric Satz, Founder and CEO of AltoIRA, a company on a mission to help individuals in the US access and execute investments in alternative assets using their retirement savings. We cover: - Eric’s journey from investment banker, to coffee shop owner, to venture capitalist, to AltoIRA founder. - What influenced him to pursue entrepreneurship throughout most of his life. - Why he thinks this is now a great time to invest in private companies. - The advantages of launching a fintech startup in Nashville, Tennessee. - Why he thinks the only thing harder than fundraising for startup money is making somebody laugh and why he has so much respect for stand-up comedians. - And much, much more! Eric is also the host of his own podcast, The Altogether Show, which features unfiltered interviews with untraditional entrepreneurs who ignored boundaries and followed their instincts. https://altogether.show/ Eric Satz An entrepreneur and former investment banker, Eric worked for DLJ/Credit Suisse First Boston before co-founding Currenex, Plumgood Food, and Tennessee Community Ventures, a VC firm. Eric served on the Board of the TVA from 2015-January 2019, and he teaches an entrepreneurship class to high school students. A Miami native and diehard 'Canes and Dolphins fan, Eric went to Amherst College. After years in NYC and then San Francisco, he and his wife moved to Nashville, her hometown, to raise their kids. When he's not breathing life into startup companies, Eric loves to ski, play soccer, and practice yoga. About AltoIRA AltoIRA is a financial technology company on a mission to help individuals access and execute investments in alternative assets using their retirement savings. The firm's cost-effective and hassle-free platform streamlines the process for investors, funding portals and issuers alike. Alto currently works with leading platform partners including AngelList, Wefunder and Masterworks, as well as financial advisors, funds and other direct issuers. Launched in 2018, the Nashville-based fintech firm is backed by leading investors including the family office of Tony James, Moment Ventures, Foundation Capital and the Sequoia Scout Fund. For more information, please visit www.AltoIRA.com - https://www.whartonfintech.org/ - https://twitter.com/whartonfintech - https://www.linkedin.com/company/wharton-fintech-club - Host: https://www.linkedin.com/in/armaza/

In this episode, Miguel Armaza sits down with Jo Ann Barefoot, CEO & Founder of the Alliance for Innovative Regulation and host of the podcast Barefoot Innovation. Jo Ann is a famous advocate of “regulation innovation,” and is one of the most active and visible fintech leaders working to improve and modernize financial regulation around the world. She is also a Senior Fellow at the Harvard Kennedy School Center for Business & Government and in the past was Deputy Comptroller of the Currency of the United States and a staff member at the U.S. Senate Banking Committee. Jo Ann Barefoot Jo Ann Barefoot is CEO & Founder of AIR - the Alliance for Innovative Regulation and host of the global podcast show Barefoot Innovation. A noted advocate of “regulation innovation,” Jo Ann is Senior Fellow Emerita at the Harvard Kennedy School Center for Business & Government. She has been Deputy Comptroller of the Currency, partner at KPMG, Co-Chairman of Treliant Risk Advisors, and staff member at the U.S. Senate Banking Committee. She’s an angel investor, serves on the board of Oportun, serves on the fintech advisory committee for FINRA, is a member of the Milken Institute U.S. FinTech Advisory Committee, and is a member of the California Blockchain Working Group Advisory Board. Jo Ann chairs the board of directors of FinRegLab, previously chaired the board of the Financial Health Network, and previously served on the CFPB’s Consumer Advisory Board. She was a Cofounder of Hummingbird Regtech. About Alliance for Innovative Regulation AIR is a nonprofit dedicated to modernizing the financial regulatory system. We believe that the regulatory framework needs to migrate from a largely manual to a Digitally-Native Design. This will ensure financial stability, protect consumers from harm, promote financial inclusion, curtail financial crime, and enable continuous innovation. AIR works at the intersection of technology, innovation, and regulation to help regulators better understand emerging technologies that can help improve financial health. Examples like cash-flow underwriting can expand safe and affordable credit to people with no credit history, increasing credit access and a creating a more fair financial system. AIR’s Regtech Manifesto Financial regulation needs to convert from analog to digital design. This seminal thought piece calls for gradual, but urgent, conversion of the financial regulatory system to a “digitally-native” framework. The Manifesto is a Request for Comments (RFC). It calls for discussion about a system that will be rebuilt over time to leverage the power of digitization and make regulatory outcomes better, faster, and cheaper, all at once. Join the conversation.

Ryan Zauk sits down with Evgenia Plotnikova, Partner and Investor at Dawn Capital in the wake of Dawn's $400M raise in September. Dawn Capital is one of the premier venture firms in Europe and is focused on B2B Software and FinTech, investing mostly in Series A and B rounds for high-growth companies across Europe. Evgenia is a seasoned investor in both venture and private equity. Prior to Dawn, she was a VC at Atomico, where she spearheaded the firm's entry into France and worked with a number of businesses, including Ontruck and Memphis Meats. Before VC, Evgenia was an investor at TPG Capital focused on telecommunications, retail, transportation, and mining. She started her career at J.P. Morgan in the London and Dubai offices, where she advised businesses on potential M&A transactions as well as equity and debt financings. Evgenia is fluent in French and Russian, has lived in 5 countries, and has traveled to 55 (though COVID may be slowing her march to 60). In 2017, Evgenia was named to Forbes’ “30 Under 30” and became the judge for its prestigious Finance category in 2018. Ryan & Evgenia cover a great deal in today’s episode, with highlights broken out below: - How she describes Dawn and her general investing style (4:20) - Raising a $400M fund in COVID, a huge fund for venture capital (7:40) - How Dawn positions themselves to entrepreneurs and founders, and the incredible value they have offered founders (10:29) - Her general sourcing and diligence processes (12:30) - Her investment in Soldo and the bright future ahead for the company (18:35) - A special rapid-fire question round (27:08) …And much more. Enjoy the show! For more insights and analysis from FinTech leaders, follow us below: Medium: https://medium.com/wharton-fintech WFT Twitter: https://twitter.com/whartonfintech Ryan's Twitter: https://twitter.com/RyanZauk LinkedIn: https://www.linkedin.com/company/wharton-fintech-club/

In this episode, Miguel Armaza sits down with Matt Oppenheimer, Co-Founder and CEO of Remitly, a Seattle-based mobile payments platform enabling consumers to send and receive payments around the world that aims to provide the full suite of financial services to immigrants and migrants. The inspiration behind Remitly came when Matt was working in Kenya in 2010 and saw how difficult it was to send and receive money overseas. He began working on the problem immediately and has since grown the business to a rumored 1.5 Billion dollar-valuation in 2020. The company has raised almost $500 million in debt and equity from top industry VCs, including Generation Investment Management, Nasper’s PayU, Stripes Group, Threshold, QED, the World Bank’s IFC, Jeff Bezos, and many more! Matthew Oppenheimer Matthew Oppenheimer is Co-Founder and CEO at Remitly. The inspiration behind Remitly came when Matt was working for Barclays in Kenya and saw how difficult it was to send and receive money overseas. Matt was drawn to the global impact his business could have: remittances eclipse foreign aid in improving global wealth equality and give people who receive them upward mobility. He began working on the problem immediately as an Entrepreneur in Residence at Highway 12 Ventures in Idaho and launched the company from Techstars in Seattle. Matt was named EY Entrepreneur of the Year 2016 in the Pacific Northwest and has been recognized as a Puget Sound Business Journal 40 Under 40 honoree for his work with Remitly. He holds an MBA from Harvard Business School and a bachelor’s degree in psychology from Dartmouth College. About Remitly Founded initially to disrupt the nearly $600 billion global remittance industry, Remitly is now transforming the lives of millions of immigrants and their families with the most trusted financial services products in the world. Remitly makes international money transfers faster, easier, more transparent and more affordable through its global network. Remitly’s reliable and easy-to-use mobile app eliminates the long wait times, complexities and fees typical of traditional remittance processes, returning millions of dollars in savings and spending power to immigrants every year. Remitly is also expanding its portfolio to include additional critical financial services for immigrants. The company’s Passbook offering is a modern banking solution that eliminates fees and other common barriers to creating a bank account, and introduces new cross-border money transfer benefits. Established in 2011 and headquartered in Seattle, Remitly is backed by more than a dozen industry-leading investors, including Prosus’s PayU, Generation Investment Management and Bezos Expeditions. The company operates globally, with offices in London, Kraków, Manila and Managua. For more information, visit Remitly.com.

Miguel Armaza sits down with Claire McDonnell, Co-founder and COO of True Link Financial, a company that aims to make life better for people with disabilities, vulnerable elders, individuals in recovery, and their families and professional support networks. At True Link, she focuses on growth, product, operations, and customer experience. There’s no doubt True Link is a transformative firm that is making the world a better place by serving and meaningfully helping some of the most vulnerable members of society. The company has raised over $50 million from a list of impressive Investors, including Centana Growth Partners, Khosla Ventures, Initialized Capital, QED, Radicle Impact, Y-Combinator, Alexis Ohanian, and many more! Claire McDonnell Claire is co-founder and COO of True Link Financial, a venture-backed fintech company that makes life better for people with disabilities, vulnerable elders, individuals in recovery, and their families and professional support networks. At True Link, she focuses on growth, product, operations, and customer experience. Before True Link, Claire helped build and lead organizations in the private and social sectors -- she worked at Bain & Company’s social sector affiliate The Bridgespan Group and Teach for America, founded Awardly, a wellness app, and served as a Runway Entrepreneur at the venture capital firm Innovation Endeavors. Claire was a Fulbright Scholar in Argentina and holds a BA from Columbia University. About True Link Vulnerable older adults, people with disabilities, and those recovering from addiction – fifty million Americans in total – need more from their financial institutions. Whether it’s protecting seniors from fraud, helping people with special needs preserve lifesaving medical benefits, or preventing an impulsive cash withdrawal or purchase that could lead to relapse, families turn to True Link when they need a financial partner who can help them navigate life’s challenges. Serving people in all fifty states, True Link has offices in San Francisco, Denver, and New York, in addition to distributed team members throughout the United States. For more information, visit www.truelinkfinancial.com.

In this Wharton Fintech exclusive, Ryan Zauk went behind the scenes with CB Insights’ Anand Sanwal and Blockdata’s Jonathan Knegtel to discuss their recent transaction. The three of them walk through the details of the acquisition, the current state of global blockchain, and the cold email Jonathan sent that kicked off this entire deal. What was the email that caught Anand’s eye amongst a sea of inbounds? You can view it on our LinkedIn, Twitter, Instagram, and Medium - just search Wharton FinTech or Ryan Zauk. Anand & Jonathan strike a perfect balance with Anand's macro view of corporate blockchain strategies/appetite and Jonathan's in-depth knowledge of the space. Episode details below: - How Anand and Jonathan first got into blockchain technology (4:19 - 6:53) - The cold email that got Blockdata on Anand's radar and what made it so effective (6:54 - 9:25) - Challenges & benefits of doing this deal in COVID (9:26 - 11:37) - A deeper look at Blockdata and why Anand bought them (11:38 - 15:27) - The roadblocks still facing global blockchain adoption and "Internet 2.0" (15:28 - 19:18) - The Perez Technology Surge Cycle and how it applies to Blockchain (19:19 - 21:14) - Our favorite part...Jonathan comparing the blockchain reg ecosystem of the US, EU, and China (21:15 - 23:47) - Where they see the most growth in blockchain tech ahead (24:31 - 27:01) ---- Anand Sanwal is the CEO & Co-founder of CB Insights, a technology market intelligence platform that provides predictive intelligence into emerging technology trends, startups and corporate strategy. Prior to founding CB Insights, Anand managed the $50 million Chairman's Innovation Fund at American Express and worked in VC and corporate M&A. Before AmEx, Anand worked at Kozmo.com, one of NYC's most infamous dot com flameouts, where he learned that if you buy something for $2 and sell it for $1, you will not make it up in volume. He has degrees in Chemical Engineering from the University of Pennsylvania and in finance and accounting from the Wharton School of Business. Jonathan Knegtel is a passionate community builder and connector of people and technology. Before he started wearing his wooden bow tie at blockchain meetups, he studied electrical engineering and has worked in startups as diverse as 3D food printing, private jets, bitcoin exchanges, and a data company tracking VC funding for tech companies. He co-founded Blockdata to help people track the growth and application of this revolutionary technology. For more insights and analysis from FinTech leaders, follow us below: Medium: https://medium.com/wharton-fintech WFT Twitter: https://twitter.com/whartonfintech Ryan's Twitter: https://twitter.com/RyanZauk LinkedIn: https://www.linkedin.com/company/wharton-fintech-club/

In this episode, I sit down with Kamran Zaki, COO of Adyen (AMS:ADYEN), a Dutch payments company that allows businesses to accept and receive payments across multiple channels and platforms. Publicly listed in the Amsterdam Internet Exchange, the company has grown over 120% since the beginning of the year and has a current market cap of $50 billion. Prior to Adyen, Kamran worked in several tech and payments companies, including PayPal, Netflix, and Citigroup, where he headed global payments teams across Europe, North America and Emerging Markets.

Miguel Armaza interviews Christine Kenna, Partner at IGNIA, a Venture Capital firm that invests in innovative solutions for the emerging middle class in Latin America. Christine joined IGNIA in 2011 and has been investing and working with entrepreneurs in strategic planning, critical problem solving, and operational issues. We discussed her background, investing approach, the evolution of the fintech ecosystem in the region, and the important efforts she leads to continue improving diversity and inclusion within the private capital industry in Latin America. About IGNIA IGNIA is a leading Mexico-based venture capital firm that partners with entrepreneurs who are reinventing the way to do business with the emerging middle class. IGNIA invests in sectors where innovation has a high impact on people’s lives such as healthcare, housing, financial services and basic services (water, energy and communications). By providing effective market responses to the enormously underserved needs of low income populations, IGNIA empowers entrepreneurship and builds a more equitable. Christine Kenna Christine Kenna joined IGNIA in 2011 and focuses on managing portfolio companies and evaluating new investment opportunities. She works closely with entrepreneurs in strategic planning, critical problem solving, and operational issues. Christine leverages her operating experience gained from running the marketing and sales operations of EF Education First, the world´s largest private international education company, where she was a key figure in managing the company´s turnaround in Mexico. Previously, while working at Google during the company´s IPO, she developed international growth strategies and helped resolve human capital management challenges. As Managing Director of The Guggenheim Foundation in Mexico, Christine became familiar with challenges faced in Mexico as she helped street children reintegrate into society, and worked with Mexican public schools and teachers to implement innovative learning methods. As a Senior Associate at The Parthenon Group, a Boston-based strategy consulting firm, she learned rigorous financial analysis and applied herself to resolving international marketing issues for Fortune 500 companies and entrepreneurial start-ups. Christine graduated from Duke University with a BA in Economics and International Relations, and has an MBA from Harvard Business School.